中国经济网北京1月5日讯 A股三大指数今日集体上涨，截至收盘，上证指数报4023.42点，涨幅1.38%， 成交额10673.34亿元；深证成指报13828.63点，涨幅2.24%，成交额14789.37亿元；创业板指报3294.55点， 涨幅2.85%，成交额6962.18亿元。 (责任编辑：魏京婷) A股市场板块涨跌幅排行 | 序号 | 板块 | 涨跌幅(%)▼ | | 总成交量（万手） = 总成交额（亿元）▼ | 净流入(亿元) ▼ | 上涨家数 | 下跌家数 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 保险 | 6.72 | 381.27 | 171.96 | 31.75 | ട | 0 | | 2 | 医疗器械 | 5.84 | 1345.93 | 318.38 | 44.39 | 130 | ব | | 3 | 医疗服务 | 5.59 | 1104.56 | 231.54 | 26.68 | 51 | വ | | 4 | 老虎乐 | 4.31 | 2724.63 | 2057.98 | 189.85 | 160 | 10 | ...

每经AI快讯，1月5日，A股多元金融板块午后走弱，翠微股份跌超8%，鲁信创投、拉卡拉跌超7%，海 南华铁、中油资本、爱建集团跟跌。 （文章来源：每日经济新闻） ...

Core Viewpoint - The acceleration of digital RMB implementation and the formal introduction of new fund sales fee regulations are expected to optimize the financial ecosystem and payment system [1][2]. Securities Sector - The People's Bank of China will officially implement a new action plan for digital RMB management and related financial infrastructure by January 1, 2026, which is expected to enhance monetary policy transmission efficiency and support the internationalization of the RMB [2]. - The new fund sales fee regulations, effective December 31, 2025, will allow differentiated redemption fees for bond funds, significantly reducing the pressure from short-term redemptions and encouraging long-term holding by investors [2]. Investment Recommendations for Securities - Focus on undervalued brokers for potential rebound during the spring market, with strong recommendations for quality brokers with significant valuation and performance mismatches, particularly Guotai Junan and Haitong Securities [3]. - Attention should be given to Sichuan Shuangma, which is positioned in the technology sector and is expected to benefit from venture capital opportunities in gene therapy [3]. - Highlighting multi-financial firms with impressive growth rates, such as Yixin Group, Far East Horizon, and Jiufang Zhitu Holdings [3]. Insurance Sector - The tax base switch is expected to have minimal impact on insurance companies' net profits and net assets, with high proportions of tax-exempt income and deferred tax liabilities [4]. - The new tax guidelines for insurance contracts will require companies to follow new standards starting in 2026, but the actual taxable income is projected to remain low due to high tax-exempt income ratios [4]. Investment Recommendations for Insurance - The high growth in liabilities is expected to drive valuation shifts, with the insurance sector benefiting from increased demand for savings and the rising market share of leading companies [5]. - The upcoming insurance market rally is supported by stable or improving conditions in the stock market and interest rates, which will enhance the balance sheets of major insurance companies [5].

证券研究报告·行业跟踪周报·非银金融 非银金融行业跟踪周报 2026 年 01 月 04 日 证券分析师 孙婷 执业证书：S0600524120001 sunt@dwzq.com.cn 证券分析师 罗宇康 执业证书：S0600525090002 luoyk@dwzq.com.cn 行业走势 -7% -4% -1% 2% 5% 8% 11% 14% 17% 20% 23% 26% 2025/1/6 2025/5/5 2025/9/1 2025/12/29 非银金融 沪深300 相关研究 《公募基金降费第三阶段落地，引导 权益类基金发展，平滑对短债基金的 影响》 看好保险 2026 年"开门红"；公募费改第三 阶段落地 增持（维持） [Table_Tag] [Table_Summary] 投资要点 2026-01-03 《低利率时代的重逢——中国分红险 发展的前世今生》 2025-12-30 东吴证券研究所 1 / 16 请务必阅读正文之后的免责声明部分 ◼ 非银行金融子行业近期表现：最近 3 个交易日（2025 年 12 月 29 日-2025 年 12 月 31 日）非银金融各子板块中仅多元金融行业跑赢沪深 ...

Investment Rating - The report suggests a focus on three main investment lines: undervalued brokerages, companies in the biotechnology sector, and diversified financial firms with strong performance growth [2][4]. Core Insights - The People's Bank of China has introduced a plan to enhance the digital RMB management system, expected to optimize monetary policy transmission and support the internationalization of the RMB, creating opportunities in the payment sector [1][40]. - The China Securities Regulatory Commission has revised regulations on public fund sales fees, encouraging long-term holding by investors and benefiting the public fund industry [1][41][42]. - The insurance sector is expected to see stable net profits and net assets due to high tax-exempt income and deferred tax liabilities, with a low taxable income forecast for 2024-2025 [3][4]. Summary by Sections Securities Sector - The digital RMB is set to officially launch on January 1, 2026, with expectations to enhance monetary policy efficiency and broaden application scenarios, benefiting related industries [1]. - The new fund sales fee regulations are aimed at reducing costs for investors and promoting a healthier ecosystem for public funds [1][41][42]. Investment Recommendations - Focus on undervalued brokerages for potential gains, particularly recommending Guotai Junan and Haitong Securities [2]. - Highlighting Sichuan Shuangma's advantages in the technology sector and its investments in gene therapy, with a strong pipeline of projects [2]. - Recommend diversified financial firms like Yixin Group and Far East Horizon for their impressive performance growth [2]. Insurance Sector - The tax base switch is not expected to significantly impact insurance companies' net profits or net assets, with a high proportion of tax-exempt income [3]. - The report anticipates a favorable environment for insurance stocks driven by high demand in the liability sector and a supportive market for asset management [4]. Market Dynamics - The report notes a recent decline in the A-share market, with the non-bank financial sector underperforming compared to the broader market [10]. - The brokerage and insurance sectors have shown varied performance, with specific recommendations for companies based on their growth potential and market positioning [10][12].

（记者 曾健辉） 每经AI快讯，香溢融通1月4日晚间发布公告称，公司及控股子公司对外担保总额约83.74亿元，实际担 保余额合计约35.09亿元，占公司2024年度经会计师事务所审计的净资产约21.67亿元的161.98%，无其 他担保，无逾期担保。 每经头条（nbdtoutiao）——AI泡沫破灭？美股下跌20%？量子计算颠覆加密货币？金价涨破1万美元？ 2026年华尔街和科技圈十大预测来了 ...

出海逐浪，金融乘势而行 非银金融2026年投资策略 华西证券非银金融团队 2026年1月6日 证券分析师：罗惠洲 SAC NO:S1120520070004 请仔细阅读在本报告尾部的重要法律声明 证券研究报告 1、非银行情复盘：2025年初至12月28日，非银金融上涨12.12%，在31个申万一级行业中排第19；跑输上证指数6.13个百分点。非银 市盈率11.62倍，在一级行业中排第23；加权市净率1.79倍，为过去十年最低37%分位。 2、业绩展望：46家可比上市券商在2025年前三季度实现调整后营收4326亿元，归母净利润1790亿元；同比分别增加45%和62%。经纪 净收入和自营净收益的高增支撑2025年行业业绩。 2025年前三季度，五家A股上市险企归母净利润合计达4,260亿元，在去年同期高基数基础上同比+33.5%。考虑到2025年第四季度 权益市场相比去年同期表现更好，我们预计上市险企2025年全年净利润将继续保持两位数增速。 3、政策梳理：2025年4月25日，中共中央政治局会议提出，"持续稳定和活跃资本市场"，释放了明确的积极信号。2026年，各监管 部门的"十五五"规划和各省市金融业"十五 ...

[Table_Page] 跟踪分析|多元金融 证券研究报告 [Table_Title] 多元金融行业 数字人民币 M1 转型，累土渐起高台 [Table_Summary] 核心观点： ①职能层面，数字人民币新增价值储藏、计息功能，具备完整货币职 能，钱包余额明确为"商业银行负债"，受存款保险保障，彻底改变了此 前仅作为"数字现金"的单一属性； ②运营层面，在"全局一本账"双层架构基础上，明确商业银行作为服 务与责任主体，其吸收的数字人民币存款可纳入资产负债管理（缴纳 准备金后用于放贷），解决了此前银行推广动力不足的问题； ③监管层面，银行类运营机构纳入准备金制度，非银支付机构实施 100%保证金要求，有效防范金融脱媒与影子银行风险。同期，八部门 联合发布《关于金融支持加快西部陆海新通道建设的意见》，进一步拓 展数字人民币应用边界，提出扩大跨境应用地区范围，依托智能合约 打造"支付结算+融资+退税"一体化方案，充分发挥其"支付即结算、低 成本"的核心优势。 ⚫ 政策升级对各类市场主体形成全方位赋能与调整，影响深度与广度显 著提升。 ①对个人用户而言：计息功能直接提升持有意愿，数字人民币钱包等 同于"计息活期存款 ...

证券之星消息，12月30日多元金融板块较上一交易日下跌1.37%，*ST熊猫领跌。当日上证指数报收于 3965.12，下跌0.0%。深证成指报收于13604.07，上涨0.49%。多元金融板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 000415 渤海租赁 | | - 4211.46万 | 14.66% | -1868.48万 | -6.50% | -2342.98万 | -8.15% | | 600816 建元信托 | | 727.21万 | 7.33% | -590.50万 | -5.96% | -136.71万 | -1.38% | | 603093 南华期货 | | 568.90万 | 3.40% | -523.24万 | -3.12% | -45.66万 | -0.27% | | 600901 江苏金租 | | 96.56万 | 0.74% | 1487.54万 | 11.40% | ...

今天，多元金融板块表现活跃。其中，拉卡拉领涨，翠微股份、鲁信创投、越秀资本均10cm左右涨停。其中，鲁信创投"一字"涨停，实现四连板。 在消息面上， 12月26日，据上交所网站消息，为了进一步规范科技型企业适用科创板第五套上市标准，更好支持尚未形成一定收入规模的优质商业火箭 企业适用第五套上市标准，加快推进商业航天创新发展、主动服务航天强国战略，上海证券交易所制定了《上海证券交易所发行上市审核规则适用指引第 9号——商业火箭企业适用科创板第五套上市标准》。 在岁末年初的交替阶段，A股市场迎来新"惊喜"。 12月29日，A股三大指数涨跌不一，沪指录得"9连阳"。截至12月26日，上证指数今年以来的最长连阳纪录是"8连阳"，共发生2次：一次发生在4月11日— 22日，另一次在8月4日—13日。 截至今天收盘，沪指涨0.04%，深成指跌0.49%，创业板指跌0.66%，北证50指数跌0.45%。沪深京三市成交21577亿元，较上一日缩量234亿元。 在板块题 材上，碳纤维、脑机接口、多元金融等板块涨幅居前。 01 多元金融板块表现活跃 业内人士表示， 商业航天产业的快速发展，将为碳纤维复合材料带来巨大市场空间。据不 ...